Biden Administration Delays Enforcement of Order Blocking $14.9 Billion Nippon Steel, U.S. Steel Merger Until June

Jan 12, 2025, 03:16 AM

The Biden administration has postponed the enforcement of an executive order that would have required Nippon Steel to abandon its $14.9 billion merger bid for U.S. Steel. The decision provides both companies with additional time as courts review their legal challenge against the order. Initially, the order mandated that the companies scrap the deal within 30 days, but the enforcement will now be delayed until June, allowing for further legal proceedings.